Houlihan Financial Resource Group Ltd. Invests $211,000 in ConocoPhillips (NYSE:COP)

Houlihan Financial Resource Group Ltd. bought a new stake in ConocoPhillips (NYSE:COP) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,660 shares of the energy producer’s stock, valued at approximately $211,000.

Several other hedge funds have also bought and sold shares of COP. Massachusetts Financial Services Co. MA lifted its holdings in shares of ConocoPhillips by 0.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 27,672,104 shares of the energy producer’s stock worth $3,211,901,000 after acquiring an additional 108,956 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of ConocoPhillips by 24.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,712,617 shares of the energy producer’s stock worth $2,752,325,000 after purchasing an additional 4,726,952 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of ConocoPhillips by 5.8% during the 1st quarter. Bank of New York Mellon Corp now owns 14,986,970 shares of the energy producer’s stock valued at $1,907,542,000 after purchasing an additional 826,529 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of ConocoPhillips by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 12,011,035 shares of the energy producer’s stock valued at $1,394,162,000 after buying an additional 270,859 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in ConocoPhillips by 2.8% in the fourth quarter. Fisher Asset Management LLC now owns 7,425,948 shares of the energy producer’s stock worth $861,930,000 after buying an additional 204,714 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

COP has been the topic of a number of analyst reports. Argus upgraded shares of ConocoPhillips to a “strong-buy” rating in a research report on Friday, June 7th. Raymond James reissued a “strong-buy” rating and set a $159.00 target price (up from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. Wells Fargo & Company lifted their price objective on ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Susquehanna lifted their price target on shares of ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Finally, Morgan Stanley raised their price target on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $144.75.

ConocoPhillips Price Performance

Shares of COP stock traded down $0.83 during mid-day trading on Friday, hitting $113.16. The company had a trading volume of 4,505,291 shares, compared to its average volume of 5,586,147. The company has a market capitalization of $132.34 billion, a P/E ratio of 12.82, a P/E/G ratio of 2.01 and a beta of 1.23. The stock’s 50 day moving average price is $115.50 and its 200-day moving average price is $117.40. ConocoPhillips has a 52-week low of $105.77 and a 52-week high of $135.18. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The firm had revenue of $14.48 billion during the quarter, compared to analyst estimates of $14.72 billion. Equities research analysts forecast that ConocoPhillips will post 8.89 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.12 annualized dividend and a yield of 2.76%. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.27%.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.